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strikeAug 18, 2026

Oil Price Today (August 18): Crude oil crosses $91/barrel amid fading US-Iran peace hopes. What lies ahead?

Summary

Brent crude futures rose 39 cents, or 0.4%, to $91.26, while US West Texas Intermediate crude futures jumped 51 cents to $85.31 a barrel, extending gains.

Source: Debaroti Adhikary — Read the full report

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  • Debaroti AdhikaryBy Debaroti Adhikary

    Brent crude futures rose 39 cents, or 0.4%, to $91.26, while US West Texas Intermediate crude futures jumped 51 cents to $85.31 a barrel, extending gains. Both benchmarks gained more than 5% last week after attacks on tankers operated by Abu Dhabi National Oil Company in the Stra…

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strikeUnverifiedUSIsraelIranRussia
○ 1 source

Indirect US-Iran talks concluded without a deal, according to reports. The United States and Israel launched a military campaign against Iran in late February, which disrupted global energy supplies and shipping through the Strait of Hormuz. Media reports suggest Washington could resume strikes after the November 3 midterm elections, following repeated threats from US President Donald Trump.

Location: Iran